How do you calculate your budget? What is the best method?

[her209]

Is it too forward-looking if I calculate my budget based on an annual basis, e.g.:

paycheck amt x 26
rent amt x 12
car insurance x 12
grocery x 12
etc.

?

 

[FoBoT]

per paycheck works for me

 

[Zap Brannigan]

Originally posted by: her209
Is it too forward-looking if I calculate my budget based on an annual basis, e.g.:

paycheck amt x 26
rent amt x 12
car insurance x 12
grocery x 12
etc.

?

What percent of all of that goes to your pimp?

 

[Rogodin2]

'Forward looking'? Too 'forward looking' means what to you?

Bi-annual? Monthly? Weekly? Is that what you want to know?

Donate your ****** to the seven day monks on Vine and leave it to Yaweh.

Rogo

 

[JEDI]

Originally posted by: her209
Is it too forward-looking if I calculate my budget based on an annual basis, e.g.:

paycheck amt x 26
rent amt x 12
car insurance x 12
grocery x 12
etc.

?

monthly:

rent = xx
gas = xx
insurance = xx
food= xx
.
.
misc = total above + 20%!!!!

 

[IHateMyJob2004]

Now that I make decent money, I don't have a budget.

1) don't waste money
2) invest spare money
3) House has no budget as it's a remodel (doing the work on my own). Jsut don't waste money.

.... I intend to have no mortgage at 35. And a 2500+ sqft home worth 500K+. Not bad for an engineer in CT with a astay at home wife and two kids

 

[SlitheryDee]

I do it monthly. Of course I like to know whether or not I'm close to my best case scenario yearly budget, but I don't sweat it too much.

Sh!t happens more often than not. Definitely every year I spend more that I planned on spending.

 

[her209]

Originally posted by: Rogodin2
'Forward looking'? Too 'forward looking' means what to you?

Bi-annual? Monthly? Weekly? Is that what you want to know?

Donate your ****** to the seven day monks on Vine and leave it to Yaweh.

Rogo

Well, I think its obvious to say that calculating my budget for the next 10 years is too forward looking.

 

[pulse8]

Originally posted by: FoBoT
per paycheck works for me

 

[thomsbrain]

don't forget to budget for car repairs, tires, your future car, etc. I save anywhere from $500 to $750 a month for car related stuff, depending on my mileage reimbursement. when it comes time to buy a new car, that monthly amount leaves plenty of room for a car payment, and the savings are currently building up to buy that payment down.

i budget for the monthly basics, put everything else into savings, and use overtime pay for the random stuff and saving for x-mas, etc. my salary is very modest, but i put more than half my post-tax money into savings every month. i manage that by being a cheap bastard.

 

[spidey07]

Sadly I budget in the 3-5 year range year by year. This then breaks down into months.

I've taken corporate world into my personal life just a little too much I believe.

 

[her209]

Originally posted by: spidey07
Sadly I budget in the 3-5 year range year by year. This then breaks down into months.

I've taken corporate world into my personal life just a little too much I believe.

How do you account for salary increases?

 

[spidey07]

Originally posted by: her209

Originally posted by: spidey07
Sadly I budget in the 3-5 year range year by year. This then breaks down into months.

I've taken corporate world into my personal life just a little too much I believe.

How do you account for salary increases?

I don't. That's gravy.

Similar to corporate budgeting it is "assumed" that you will get more the next year. Always assume your budget will increase and carry over into personal life that your in will increase. It should.

Only with personal finances you don't have to spend it all and can do what you like. Versuses a "use it or lose it" mentality.

 

[Tiamat]

Annually just for a general idea. But for a better idea of "can i survive now" I do monthly.

 

[olds]

Don't do a budget, too much work.

 

[puffff]

monthly works best for me since rent, mortgage, credit card bills, utilities, cellphone all come monthly.

i get paid every two weeks, which means twice a year i'll get 3 paychecks a month. those months, i take that extra paycheck and splurge on something.

 

[bennylong]

I don't have a budget. Why limit myself?

 

[her209]

Originally posted by: bennylong
I don't have a budget. Why limit myself?

Ummm... yeah.